ViaBTC founder and CEO Yang Haibo said in a post that CoinEx is shutting down, but argued that the exchange’s hot wallet system remains advanced enough to serve as a reference for the industry. According to Yang, CoinEx introduced an MPC-based dual-signature setup for its hot wallet architecture to remove single points of failure.
He said the underlying infrastructure was split into a business system and a wallet system, each operated by a fully independent team holding one private key. Every withdrawal or transfer had to pass real-time, substantive risk-control reviews on both sides. Under that design, Yang said, compromising either system alone would not allow an attacker to steal assets.
Yang also said the wallet signing process had to be implemented independently rather than relying on the native mechanisms of each node, which required extensive rebuilding work. He added that the team spent more than a year modifying most of the nearly 300 blockchains supported by CoinEx.
ChainCatcher reported that ViaBTC founder and CEO Yang Haibo said in a post that CoinEx is shutting down, but its hot wallet system remains relatively advanced and could still offer useful lessons for the industry.
Yang said CoinEx introduced an MPC-based dual-signature scheme for its hot wallet setup to eliminate single points of failure.
He said the infrastructure was divided into a business system and a wallet system, with the two run by fully independent teams that each held one private key. Every withdrawal or transfer had to go through real-time, substantive risk-control checks by both sides. Under that structure, even if one system were compromised, assets could not be stolen.
Yang added that the wallet signing process had to be built independently rather than relying on the native mechanisms of individual nodes, which meant extensive reconstruction work. He said the team spent more than a year upgrading most of the nearly 300 chains supported by CoinEx.
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